Resource Spotlight: Community Savings Accounts

Great idea… now how do we get it funded?

The answer in several SD communities is funding through a local Community Savings Account, or CSA, through the South Dakota Community Foundation. A CSA is a fund to support basic needs and enhance the quality of life within a community in South Dakota. It is permanently endowed, meaning a gift donated to the fund is never “used up.” With the SD Community Foundation’s careful investment, a town’s CSA will continue to grow and support annual awards in perpetuity, ensuring the town continues to thrive and prosper for years to come.

All CSAs, regardless of size, act and feel like their own local foundation. That’s because every CSA has its own local board of directors to raise and distribute funds. The money raised in your community, stays in your community. 

A local CSA aids your community in getting projects done and meeting goals to improve the lives of residents in your town. Partnering with SDCF allows you to establish a driving force for making a difference. Ultimately, you’re able to create a lifelong legacy for your community.

The most rewarding aspect of the foundation is the good that is made possible through the funding of worthwhile projects. Although there is typically more demand than funds available, the grants that can be funded have a positive impact on the Freeman community and will continue to benefit projects year after year.

A great example of a successful community foundation or CSA is in Freeman. The roots of the Freeman Community Foundation go back to 1997 when the first local board of directors accepted a challenge to raise $100,000 by July 1, 2000. Today, nearly 20 years later, the fund has grown to a balance of nearly $900,000 and has funded dozens and dozens of projects that have made a significant impact on the community.

For more information on the Freeman Community Foundation, visit https://sdcommunityfoundation.org/csa/freeman-community-foundation/.

For more information on Community Savings Accounts through the South Dakota Community Foundation, visit https://sdcommunityfoundation.org/for-communities/.